Doug Scovanner, Target’s executive vice president and chief financial officer, will retire on March 31, 2012.
Scovanner began his career with the mass merchant in 1994 as senior vice president of finance of what was then known as Dayton Hudson Corp. (renamed Target Inc. in 2000). He became chief financial officer later in that year, and was named executive vice president and chief financial officer in 1999.
A successor has not yet been named, although a Target statement speaking of the “exceptional talent throughout its organization” and “strong leadership bench” suggested that the next chief financial officer will be someone already with the company. Scovanner will assist in the transition.